The boys at the top should set some examples by taking much lowere wages to start with if they are really serious about turning this company around. They are still far from Bankrupcy with 31 Billion on hand. They also figure to sell something like slightly over 14 million cars this year or next I believe as well. They are definitely still making profit for sure on every one of them and the quality has defintely beome worldclass as well. The only place they have been losing money is in the US as they have made money just about everywhere else they do business. ![Smiley :)](https://www.autos.ca/forum/Smileys/CarTalk/smiley.gif)
I would hate to see GM fail. It would be a huge negative for our NA economy and would impact globally.
That said, Barrie's posts are so full of outright lies and BS, that it begs a response. The following FACTS (a short commodity in Barrie's wishfull-thinking posts) are from a current Bloomberg Business article:
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Total US Auto sales will approximate 14 million in 2008. This is NOT what GM will sell as Barrie has stated. This level is the lowest in 15 years. GMs US market share is expected to be about 21% in 2008, down from 23.5% in 2007. GMs share at 21% would be the LOWEST since 1925....!!!! In the 1960s, GMs market share of US market was in excess of 50%.
- GMs loss in 2007 was $38.7 billion. Yes, billion. GM has not posted a profit corporately since 2004 and this includes
ALL operations, not just US operations.
- Should GM suspend it's dividend, it would be the first time since 1922. This is a serious sign of corporate weakness, and should not be dismissed lightly. Companies only suspend dividends when most everything else fails.
- GM stock is currently (past year) the worst performing member of the 30 member Dow Jones Industrial Average.
- Since 2000, GM has cut it's US white collar workforce from 44000 to 32000 with further cuts of up to 20% more coming in the future months. The pain is not only being felt at the blue collar end, as Barrie likes to convey.
These are facts, not some BS from the CAW newsletter which is hardly an unbiased source, and could be totally misleading in many cases.
If one is to comment and agrue about this topic, a more-widely read background would be useful.
![Roll Eyes ::)](https://www.autos.ca/forum/Smileys/CarTalk/rolleyes.gif)